The Australian government must make radical changes to superannuation to deal with future budget shortfalls in defence, aged care, and the National Disability Insurance Scheme. A move Prime Minister Anthony Albanese has refused to commit to. Grattan Institute Economic Policy Program Director Brendan Coates says superannuation tax breaks cost the federal budget $45 billion (US$29.9 billion) a…
Think Tank Calls for Super Tax Breaks to Be Whittled Away
The Australian government must make radical changes to superannuation to deal with future budget shortfalls in defence, aged care, and the National Disability Insurance Scheme, a think tank has said. This is despite Prime Minister Anthony Albanese’s refusal to commit to anything of this nature. Grattan Institute Economic Policy Program Director Brendan Coates says superannuation tax…
Government Should Control Spending, Not Dip Into Our Retirement Nest Eggs
March 3, 2023
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anthony albaneseAustraliaBusiness & Marketseconomic policiesInternationalJim ChalmersOpinionpension fundpersonal financeSuperannuationViewpointsWorld
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Commentary The announcement by the federal government that it intends to change the tax structure on superannuation (pension funds) should be of concern to all Australians. Indeed, it should be concerning to all Australians as it is arguably retrospective. We are once again seeing a federal treasurer targeting a soft target (superannuation) in an attempt…
Backlash Forces New Zealand Government to Abandon Plan to Tax Pension Funds
August 31, 2022
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Asia & PacificAustraliaBusiness & MarketsChristopher LuxoneconomyInternationalJacinda Ardernpension fundWorld
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New Zealand government has shelved its proposal to impose the goods and services tax (GST) on KiwiSaver, New Zealand’s pension fund, less than 24 hours after it was put forward, following strong backlash from the public, the opposition party, and the fund sector. Introduced to parliament on Tuesday evening, the tax was intended to “even…
Big US Pension Fund Raised Stake in Tesla and This Automaker in Q1
The State Teachers Retirement System of Ohio, or STRS Ohio, one of the largest U.S. public pensions fund, raised its exposure to Tesla Inc. and Ford Motor Co. in the first quarter while trimming its stake in General Motors Co., latest regulatory filings show. Raising Tesla Exposure STRS Ohio raised its stake in the Elon Musk-led Tesla by about 10 percent in the three months ended March…
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